By Mike Salvino
Digital technology has transformed virtually every industry, affecting the way companies serve customers, manufacture products, interact with stakeholders, manage operations and engage their workforce. Here Mike Salvino illustrates the necessity of incorporating this transformation into business process outsourcing in order to create more value.
Yet, at a time when the majority of the business world has rapidly embraced the digital revolution, most business process outsourcing (BPO) engagements continue to exist in an environment of low expectations when it comes to technology innovation and, as such, are not delivering the kind of value they should. In fact, according to Accenture-sponsored research from HfS Research, two-thirds of the buyers surveyed describe their current engagements as mainly “lift and shift,” where existing processes are merely transferred to an external provider to reduce cost, with limited business transformation involved.